Two-Unit
For Sale
$249,900
42 Washington Avenue, Rouses Point, NY 12979
Residential Income, Rouses Point, NY
Property Size2,101 SF
Price / SF$118.94
Days on Market51
Property Features for 42 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Basement
Unfinished
Elementary school district
Northeastern Clinton
Middle school district
Northeastern Clinton
High school district
Northeastern Clinton
Directions
from plattsburgh, head north on route 9. take a right on to route 9b. entering Rouses point, take continue on to lake st. take a right on to washington ave. home is located on right. see sign.
Subdivision
Champlain, Rouses Point, Mooers
Standard status
Active
APN
20.10-5-18
Size
2,101 SF
Taxes and HOA fees
Tax Annual Amount
3786
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1860
Floors in Building
2
Building materials
Wood Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Kavanaugh Realty-Plattsburgh
(518) 562-4679
Listed By:
Michael Rowe · License #10401310470
(518) 593-9450
Added: Jul 10
Changed: Aug 21
Last Checked: Aug 29 at 11:06AM
MLS# 207847
Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 42 Washington Avenue in Rouses Point, this 2101-square-foot duplex contains two separate 2-bedroom residences. The property dates to 1860 and features wood siding, a metal roof, electric baseboard heating, and a porch. A driveway provides on-site parking, while public water and public sewer serve the property.
The property is positioned near local shops, restaurants, schools, and the waterfront. It is also described as being minutes from the Canadian border and close to Montreal, providing access to nearby cross-border and regional destinations. The two-unit configuration supports an owner-occupant arrangement with rental use in the second residence.
The property is positioned near local shops, restaurants, schools, and the waterfront. It is also described as being minutes from the Canadian border and close to Montreal, providing access to nearby cross-border and regional destinations. The two-unit configuration supports an owner-occupant arrangement with rental use in the second residence.
Key Highlights
- Two 2‑bedroom units in a duplex configuration
- 2101 square feet of building area
- Built in 1860 with wood siding and a metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,938
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$358,760
$358.8K
Cap Rate 7%
$256,257
$256.3K
Cap Rate 9%
$199,311
$199.3K
Market Conditions
NOI Build-Up for 2,101 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.7K $13.20/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$25.6K $12.20/SF
− OpEx
−$7.7K −$3.66/SF
NOI
$17.9K $8.54/SF
Area
Clinton County, NY
Vacancy
7.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$358,760
Cap Rate 7%
$256,257
Cap Rate 9%
$199,311
Alternative Uses
Best Use
Multifamily LT 5
$256.3K
$224.2K – $299.0K
NOI $17,938 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$227.8K
$199.3K – $265.8K
NOI $15,947 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$579.2K
$506.8K – $675.7K
NOI $40,541 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 12979, NY
2,321
Population
1,344
Households
1.7
Avg Household Size
48
Median Age
20%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
553
Density / Sq Mi
$47,135
Median Household Income
$40,824
Median Earnings
$731
Median Rent
$180,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, supporting owner occupancy alongside rental use.
Where is this duplex located?
The property is located at 42 Washington Avenue Rouses Point, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two 2‑bedroom units in a duplex configuration; 2101 square feet of building area; Built in 1860 with wood siding and a metal roof
